Ogden Standard-Examiner | 1926-07-14 | Page 10 | Early Avance Hits Reaction

EARLY EARLY MANGE AVANCE HITS REACTION I Total Sales Near Two Two Million Food Sha Shares es J Lead NEW YOnI YORK July D 14 14 14 By The A Associated Pe Press Stock Stock prices d a complete completo reversal of off f rm In today's market an early outburst of o strength during which outburst more than a score Issues Issue mounted to tO new high hith for tor the tho th yea being followed In the tho early after afternoon noon byo by a wave ave av ot of o profit taking and hear hf r selling Trading showed a further IncreASe In volume to total tal tel sale e one and one one- quarter one Quarter million shares before tl e end eM of oC the th third hour r The Tile reaction was not associated with anything In ir In the th days day's news but was WM widely regarded as a 4 correctiOn of a weakened technical cat cal position resulting from the of advance anco almost perpendicular the last nt eight ht weeks of ot more It with the lie food tood sharps shares of ot which have hav been ben under pool manipulation but eventually nil alt sections spread d to practically ot of of the th list Tha Th weekly steel trade reviews reported good July 1 business to In the weakness date although basic pIg pie Iron market brought the le leel el down to the th lowest sinCe e last September lIon However heavy vy melting steel scrap was wa ad- ad advanced ad advanced Soc 5 c a 0 ton in to ro- ro re-porta re shares Oil failed tailed to respond ports of t-a t a D small decrease o In crude production laSt latt week eer Another run up In General Genral Motors 1 was II again the tho feature of the tir mo- mo motor mo motor tor br group croup but this Issue practically tlc lIy 1 told Sold down t 1 two points from Its early high hish when hen weakness de- de de developed In other sections of ot the list Trading In the the rails quieted disposition down with I rather general tion on the tho part 0 ot of professional operators to further await devel devel- development development of o the th revised Nickel merger mer er plan before extend extend- extendIng extendIng extend Ing their commitments The closing was steadY ste dy The check to the rise In General Genral Motors United States Stales Steel and aad other pivotal Is Is- Is Issues sues Induced renewed selling elsewhere with somo some of the th rail shares raring faring badly After tailing falling below yesterday closing Prices however the two leading Industrial stocks met better sup sup- support support port and again headed upward with Ith a along rd the- the close chose number of specialtIes Total sales approximated shares hares shares